6 things you need to know about discovery shopping marketplace – Tophatter
Running short of time? Get PDF of the blog in your mail.
Tophatter, described as Instagram meets eBay, is truly a discovery shopping marketplace for deal lovers and bargain hunters. Products can move really fast here as shoppers participate in 90-second auctions to win and buy an item. The 85% sell rate proves the formula works. So, is selling on Tophatter for you? Here are seven things you need to know about the marketplace to decide.
1. Discovery Shoppers:
Although Tophatter is an eCommerce marketplace, it has some inherent differences from its famous competitors like Amazon, eBay, or Walmart. While Amazon, eBay, or Walmart focus on high-utility and efficiency-focused buyers, who know what they want and want it fast, Tophatter’s core customers come to the app to spend time.
They come to Tophatter to make a purchase but usually don’t have a specific product in their minds. The experience on discovery shopping marketplace can be compared to browsing your social media feed and finding something you didn’t know you wanted.
2. Personalized Shopping:
Tophatter utilizes big data and analytics to offer personalized product recommendations to shoppers. This makes a seemingly endless feed an interesting one. To achieve this, the buyers who make a lot of jewelry purchases will be shown more jewelry products, but Tophatter’s algorithms are built to not hyper-personalize. It is about striking a balance between showing relevant products and showing the breadth of inventory.
3. Global Presence:
At present, Tophatter is live in 14 countries, this includes the largest eCommerce market in the US; dominant eCommerce markets of Europe: UK, Germany, France, Portugal, and Spain. In the Oceania region, it has a presence in Australia and New Zealand and iTophatter utilizes big data and analytics to offer personalized product recommendations to shoppers. This makes a seemingly endless feed an interesting one. To achieve this, the buyerss live in South Africa and of course, the rest of North America and some regions of South America. Selling on Tophatter enables you to gather worldwide attention for your products and facilitate cross-border eCommerce sales.
Tophatter is predominantly an m-commerce company. About 80% of shoppers use Tophatter’s mobile app. Shoppers approach Tophatter similar to how they approach a mobile game. It is a place to spend time thus customers visit the app several times a day.
5. Buyer Persona & Top Performing categories:
Tophatter shoppers are of all ages, 60% are female and are aged between 30-35. This helps you to create a buyer persona and target your ideal customers. Apparel, fashion & beauty, home & hobbies, jewelry, and electronics are some of the Tophatter’s top performing categories.
6. Better control:
To put the seller in a better position to control the fate of their listings, Tophatter launched its Scheduling Fee Bidding feature, this enables sellers to prioritize the listings they want to schedule for auction and gives them huge control over volume. Tophatter also allows provides a number of levers to control performance, including the ability to set a Starting Bid and Reserve Prices.
For many sellers, Tophatter opens a wealth of opportunities. A new marketplace that is not over-saturated, where products are seen by the shoppers who spend time looking around, and a multitude of tools to control sales and volume.
More from CedCommerce:
- Another giant leap for CedCommerce, now becomes Tophatter Channel Integration Partner
- Another Sales Channel Apps for Shopify, Tophatter available on Shopify app store